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  • #881
  • Oct 22, 2013 2:53am Oct 22, 2013 2:53am
Quoting GVglobal Ltd
This has been a ton of knowledge for beginners. I appreciate your concern in taking time and sharing so much of useful information. I used to have one question in my mind in the recent times, please help me with that. Are scalping good for beginners or at least intermediaries? Reason it, if you don't mind spending some time. Thanks in advance!!!!!!!!!
All the knowledge has no value if it is not shared with the others.
I don't think that scalping is good for beginners for one simple reason. Scalping is all about discipline and money management. Beginners just don't have the habit to trade strictly by the rules and manage the risk. For the intermidiaries and even traders with more experience depends on the individual case. If you are disciplined person and realise the concept and importance of MM you can scalp successfully.
  • #882
  • Oct 22, 2013 7:35am Oct 22, 2013 7:35am
The best time for long options strategies is when the realized volatility is larger than the implied volatility.
  • #883
  • Oct 24, 2013 1:21am Oct 24, 2013 1:21am
STE off 20 EMA. Initial stop 4 pips. 1st part +6 pips
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  • #884
  • Oct 24, 2013 1:33am Oct 24, 2013 1:33am
2nd part +12.2 pips, stop at -1p.
  • #885
  • Oct 24, 2013 2:55am Oct 24, 2013 2:55am
PMI indices for Germany and France were worse than expected. Technical picture is not clear now. I'll have to wait for the next trade.
  • #886
  • Oct 29, 2013 9:10am Oct 29, 2013 9:10am
Following numerous requests by traders from all over the world I translated a few of my books in English. This is the reason I started a new thread in the Commercial content section where I will share my experience and ideas. I'm sure that it is impossible to make money without an edge and the thread name is The Ultimate Trading Edge http://www.forexfactory.com/showthread.php?t=454061.
  • #887
  • Oct 31, 2013 10:04am Oct 31, 2013 10:04am
Two STE and one binary strangle from today.
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  • #888
  • Oct 31, 2013 2:29pm Oct 31, 2013 2:29pm
1. How many monitors do you trade with? Can you trade this way with just a 15.6" laptop/notebook?

2. Do you listen to real-time news audio like RANsquawk or Talking-Forex? Do you listen to Bloomberg TV (cable or online) although it's more on equities and general investment?

3. Do you use the expensive Bloomberg Terminal, or similar professional service like Reuters 3000 Xtra?

4. Besides charting platforms (MT4 or e-Signal or NinjaTrader or TradeStation), what other visual tools do you use to help read the markets?

I know these hardware do not provide the trading edge by themselves, but I'm curious how a 12-year veteran like yourself gets prepared for the daily trading routine and what tools-of-the-trade you employ to get in sync with the market before placing your trades. I had these thoughts when I was watching EURJPY and EURUSD prices moved down subtly after 5amET Tokyo close, one hour before the poor EUR news hit the wires at 6amET. Market professionals seemed to already know where the next dealing level will be ahead of news releases, and gave up 1.3700 and drop to 1.3600 on EURUSD.
No longer trading forex. Looking for full time job.
  • #889
  • Oct 31, 2013 2:58pm Oct 31, 2013 2:58pm
Quoting mmaker
1. How many monitors do you trade with? Can you trade this way with just a 15.6\" laptop/notebook? 2. Do you listen to real-time news audio like RANsquawk or Talking-Forex? Do you listen to Bloomberg TV (cable or online) although it's more on equities and general investment? 3. Do you use the expensive Bloomberg Terminal, or similar professional service like Reuters 3000 Xtra? 4. Besides charting platforms (MT4 or e-Signal or NinjaTrader or TradeStation), what other visual tools do you use to help read the markets? I know these hardware do not provide...
1. I trade usually on my laptop. Sometimes I attach 22" monitor if I trade more financial instruments during NFP for example. When I was working as FX dealer I got used to work with 2 monitors, but now one is enough. It is much easier for me to cover the charts and the quotes at the same time.
2. I don't listen to real-time news audio. I use the Net Station of netdania.com and Oanda FX News.
3. As a dealer I could use Reuters and Bloomberg, but there is too much information. I just don'r need most of this ocean of information and I waste too much time to find what is useful for me. The quotes are providing much better info in advance.
4. I use MT for charting. Every morning (5-6 AM London time) I prepare my road maps. These are charts of EURUSD, GBPUSD and EURJPY with support and resistance levels. They help me to identify the points on chart where a couple of levels are in close proximity. The after the London open I look for my STE entries (positions in the direction of the trend on 1M hart after pullback). I also watch for volatility trades (mostly volatility breakouts). I trade with options structures (strangles mostly) what I call predictable changes in volatility. I don't try to predict what the market will do. When the 20 and 50 EMA cross and go in one direction I wait for the pullback to open a position. If the market is not moving I trade the same set ups with options.
I hope I answered your questions. If something was not clear just ask.
  • #890
  • Nov 1, 2013 2:47am Nov 1, 2013 2:47am
Quoting mmaker
I had these thoughts when I was watching EURJPY and EURUSD prices moved down subtly after 5amET Tokyo close, one hour before the poor EUR news hit the wires at 6amET. Market professionals seemed to already know where the next dealing level will be ahead of news releases, and gave up 1.3700 and drop to 1.3600 on EURUSD.
Today I can show an example of what I do. Last few days EURUSD sold off heavily. Short term specs are short. Perfect conditions for a short squeeze. Quotes show some buying and there are rumors that Asian sovereigns are on the bid. There is no way I can be sure that this is true. What I can do is to open a long position with small stop. If I'm right I will be long at the beginning of a nice rally. If I'm wrong, my stop is at BE currently and I booked some profit. It's pretty acceptable R/R for me and worth trying. Besides, I made some profits with my mornign binaries trade.
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  • #891
  • Nov 1, 2013 3:02am Nov 1, 2013 3:02am
hello i back
ste setup on GU
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  • #892
  • Nov 1, 2013 3:13am Nov 1, 2013 3:13am
Good luck Behzad.H
Position stopped at BE. Looking to sell,because EMAs heading down.
  • #893
  • Nov 1, 2013 3:15am Nov 1, 2013 3:15am
hello srmfx thanks for your helps
please tell us how can perfect on reading Quotes in your way ?
  • #894
  • Nov 1, 2013 5:44am Nov 1, 2013 5:44am
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  • #895
  • Nov 1, 2013 6:28am Nov 1, 2013 6:28am
EJ +8
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  • #896
  • Nov 1, 2013 7:28am Nov 1, 2013 7:28am
Quoting Behzad.H
hello srmfx thanks for your helps please tell us how can perfect on reading Quotes in your way ?
I wrote a book about my trading style, because it is much easier than to explain to every trader that is asking. Quote reading is covered in this book. Bulgarian version should be available these days. I'm finishing the English version which will be in ebook format for now.
  • #897
  • Nov 1, 2013 8:21am Nov 1, 2013 8:21am
prev EJ and EU =+3pips

Long EJ now on Level:
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  • #898
  • Nov 1, 2013 8:28am Nov 1, 2013 8:28am
Quoting srmfx
{quote} I wrote a book about my trading style, because it is much easier than to explain to every trader that is asking. Quote reading is covered in this book. Bulgarian version should be available these days. I'm finishing the English version which will be in ebook format for now.
Thanks alot man!
please tell us your English or Bulgarian ebook's name, is it "The Ultimate Trading Edge" ? are these free?
if you uploaded them and links available , please give us your links .
  • #899
  • Nov 1, 2013 8:58am Nov 1, 2013 8:58am
Quoting Behzad.H
{quote} Thanks alot man! please tell us your English or Bulgarian ebook's name, is it \"The Ultimate Trading Edge\" ? are these free? if you uploaded them and links available , please give us your links .
http://ciela.bg/books/book/kak-da-ss...trategiia/1789
This is the last book in Bulgarian

"The Ultimate Trading Edge" is the site for the English books. I think it is fair that everybody can read some free articles or mini books and then to decide if wants to buy the books. For now I will make 5 books in English. They will be sold through Amazon and the price for all of them will be $30-40 max. Every book could be bought separately for price of $5-10.
These are the working titles:

THE FOREX MARKET

PRICE ACTION TRADING

HOW TO DEVELOP YOUR OWN TRADING STRATEGY

MY TRADING STRATEGIES



FOREX OPTIONS TRADING




  • #900
  • Nov 1, 2013 12:35pm Nov 1, 2013 12:35pm
Quoting srmfx
{quote} http://ciela.bg/books/book/kak-da-ss...trategiia/1789 This is the last book in Bulgarian \"The Ultimate Trading Edge\" is the site for the English books. I think it is fair that everybody can read some free articles or mini books and then to decide if wants to buy the books. For now I will make 5 books in English. They will be sold through Amazon and the price for all of them will be $30-40 max. Every book could be bought separately for price of $5-10. These are the working titles: THE FOREX MARKETPRICE ACTION...
thanks man , you are great
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